Click here to get this article in PDF
Mauldin Economics/John Mauldin/7-23-2021
“Chief Jerome Powell himself said so, repeatedly begging Congress to deal with unemployment and business failures more effectively. He admitted there was little else his fire trucks could do but he kept them there anyway in the form of massive quantitative easing and keeping rates at the zero bound. They are still on-scene now. It is my opinion that this has the potential to go down as the greatest policy error in central bank history.”
USAGOLD note: Of course, that is the general course of action that in other places, other times led to currency destruction and runaway inflation. Mauldin offers some advice on what he thinks the Fed should do. “Though to be frank,” he adds, “I have little hope they will.” He likens the direction Jerome Powell has taken to that taken of Fed chairmen Arthur Burns and G. William Miller in the 1970s.
The post Today’s top gold news & opinion first appeared on Today’s top gold news and opinion.